Expanding its global reach along with its frequency-control product line, Oak Industries Inc. has agreed to acquire Tele Quarz GmbH, which is based in Neckarbischofsheim, Germany, for $65 million.
Tele Quarz produces precision crystals and oscillators for the wireless- and wired-telecommunications infrastructure markets, as well as for handset, automotive, radio, and paging applications.
Tele Quarz will operate as a division of the Oak Frequency Control Group.
"The acquisition of Tele Quarz greatly strengthens Oak Frequency Control Group in Europe," said William S. Antle, Oak's chairman and chief executive. Oak has also made investments in Shanghai, China, in an effort to create a more global reach for its precision frequency-control products."
Waltham, Mass.-based Oak last week reported that third-quarter sales rose 6%, to $81.6 million, from $77 million in the year-ago period, while net income grew 27%, to $7.4 million, from $5.8 million.
Oak makes connectors for the CATV industry, frequency-control devices used in base stations for wireless communication, and fiber-optic components for the wired-telephony infrastructure.